Accountant: practical guides and steps

An accountant keeps your figures, files your returns and warns you before deadlines. Choosing one therefore commits your business for several years. This page helps self-employed people and SME managers compare profiles, fees and services.

Protected titles in Belgium

Since 2019, a single institute has overseen the profession: the ITAA. It brings together the former institutes of chartered accountants and bookkeeper-tax specialists. Several titles coexist under its supervision.

• A certified accountant handles accounting and tax work, including certain reserved assignments.
• A certified tax adviser specialises in tax advice.
• A certified bookkeeper-tax specialist keeps the books and prepares routine returns.

For a typical SME, all these profiles can keep the books. Statutory audit, however, belongs to the company auditor. Only that professional can act as statutory auditor.

Checking your accountant's title

The check takes two minutes. The ITAA public register sits on the institute's website. Search for the professional's name or firm. Also check their professional liability insurance. Finally, insist on an engagement letter that describes tasks and fees.

Comparing firms

Every sector has its traps, and an accountant who knows your trade anticipates them. Hospitality, e-commerce and construction, for example, follow specific VAT rules. The size of the firm matters too. A sole practitioner offers a direct relationship, while a large firm brings specialists.

Then test responsiveness before signing. Send a precise question by email and measure the response time. Also ask which tools the firm uses, such as an online portal to view your figures.

Fees: how to read a quote

Three models dominate: a fixed fee, an hourly rate and a price per task. A fixed fee gives a small business visibility. Still, check what it covers: number of documents, returns, meetings and questions. Extras often make the difference between two quotes.

The cheapest option does not always win. Imagine a professional who costs 1,500 euros more per year. If that adviser spots a missed deduction that cuts tax by 4,000 euros, the maths clearly favours them.

Also agree clear working arrangements. Who supplies which documents, and by when? How quickly does the firm process your invoices? A fixed schedule avoids last-minute stress before each return. Finally, ask whether the firm supports you during a tax audit, and at what price. An annual review of your tax position is also worth requesting. Write these points into the engagement letter.

Warning signs

• The professional does not appear in the ITAA register.
• The firm refuses a written engagement letter.
• Your returns go out late, again and again.
• You never receive proactive advice.

A serious accountant will also ask for your identity card and details of your beneficial owners. These questions stem from anti-money laundering law. You can also switch firms, ideally after a year-end closing, while respecting the agreed notice period.

Our guide to choosing an accountant also lists questions for the first meeting. To place these services in context, read the accounting obligations of businesses and the corporate tax return.